Save time and money with an AVM report.
Automated Valuation Models (AVM) are reports that search databases for similar properties, giving you an idea of historical sales price ranges. Some databases use Freddie Mac’s Home Value Explorer, or HVE, which leverages the national repository of real estate information. Others use county data records or collect information from appraisal reports. In all cases, the information is limited to factual data. Home renovations, updates and remodels are not typically included.
Why use an Automated Valuation Model?
Mortgage lenders can greatly reduce the costs associated with establishing property value and mortgage refinancing transactions by using an AVM. It’s a valuable and cost effective substitute for appraisals and other evaluation tools.
- Equity Loan Origination
- Mortgage Loan Quality Control
- Portfolio Evaluation
- Appraisal Review
- Risk Assessment
- Target Marketing
Fitting your financial institution with a custom AVM that accurately fits your market is our goal. By speaking with an agent from JT Miller Company, you can determine which option and vendor will best fit your business. Choose from vendors like:
Freddie Mac’s Home Value Explorer (HVE):
Freddie Mac’s proprietary valuation tool is based on over 15 years of model development. It’s a combination of data in the national repository of real property information and data obtained from public records in over 2,500 countries.
Home Price Analyzer (HPA):
The Home Price Analyzer searches indexes created from over 200 million historical residential sales records of more than 100 million properties. This database can identify properties down to the the same zip code + 4 digit number as the property being valued.
Case Shiller Weiss (CASA):
The Case Shiller Weiss index is comprised of several indexes including the national home price index, multi-city composite indexes, and individual metro area indexes. Those indexes allows it to use home characteristics, repeat sales and other data to do price forecasting and home value determination.
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J.T. Miller Company
52 Hamel Road
Hamel, MN 55340-9625
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